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A Study of Factors Affecting the Renewal of Health Insurance Policy

Author

Listed:
  • Bhat Ramesh
  • Jain Nishant
Abstract
Health insurance policies are generally one-year policies and to remain part of the insurance poll, policyholders are required to renew their policies each year. Understanding the factors that affect the demand and renewal decisions to continue in health insurance programme is imperative for future growth and development of the insurance sector. We extend our previous work on factors affecting the decision to purchase health insurance to understand the factors affecting the renewal of insurance policy. We find the factors affecting health insurance renewal are not the same as factors affecting health insurance purchase decision. This has implications for insurance providers. The study also suggests customer satisfaction as an important factor influencing the renewal decision of policyholder.

Suggested Citation

  • Bhat Ramesh & Jain Nishant, 2007. "A Study of Factors Affecting the Renewal of Health Insurance Policy," IIMA Working Papers WP2007-01-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
  • Handle: RePEc:iim:iimawp:wp02002
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    File URL: https://www.iima.ac.in/sites/default/files/rnpfiles/2007-01-02_rbhat.pdf
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    References listed on IDEAS

    as
    1. Elizabeth Savage, 2001. "Health insurance and health care utilization: Theory and evidence from Australia 1989-90, CHERE Discussion Paper No 44," Discussion Papers 44, CHERE, University of Technology, Sydney.
    2. Jain Nishant & Bhat Ramesh, 2006. "Factoring affecting the Demand for Health Insurance in a Micro Insurance Scheme," IIMA Working Papers WP2006-07-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
    3. Hurd, Michael D. & McGarry, Kathleen, 1997. "Medical insurance and the use of health care services by the elderly," Journal of Health Economics, Elsevier, vol. 16(2), pages 129-154, April.
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    5. A. C. Cameron & P. K. Trivedi & Frank Milne & J. Piggott, 1988. "A Microeconometric Model of the Demand for Health Care and Health Insurance in Australia," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 55(1), pages 85-106.
    6. repec:bla:ecorec:v:45:y:1969:i:109:p:69-83 is not listed on IDEAS
    7. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-255, March-Apr.
    8. Muurinen, Jaana-Marja, 1982. "Demand for health: A generalised Grossman model," Journal of Health Economics, Elsevier, vol. 1(1), pages 5-28, May.
    9. Sindelar, Jody L, 1982. "Differential Use of Medical Care by Sex," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 1003-1019, October.
    10. Feldstein, Martin S, 1973. "The Welfare Loss of Excess Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages 251-280, Part I, M.
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    Cited by:

    1. Heenkenda, Shirantha, 2016. "The Determinants of Dropouts from Voluntary Pension Scheme: Evidence from Sri Lanka," MPRA Paper 72481, University Library of Munich, Germany.
    2. Mebratie, A.D. & Sparrow, R.A. & Debebe, Z.Y. & Alemu, G. & Bedi, A.S., 2014. "Dropping out of Ethiopia’s Community Based Health Insurance scheme," ISS Working Papers - General Series 76960, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    3. Sunday Stephen AJEMUNIGBOHUN & Sunday Adekunle ADULOJU & Ashim Babatunde SOGURO & Fatimo Titilope AZEEZ, 2017. "Demand For Health Insurance Among Individual Households In Lagos State: Effects Of Socio - Demograhic Variables," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 5(13), pages 14-29, June.
    4. Panda, P. & Chakraborty, A. & Raza, W.A. & Bedi, A.S., 2015. "Renewing membership in three community-based health insurance schemes in rural India," ISS Working Papers - General Series 608, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    5. Adu, Kofi Osei, 2019. "National health insurance scheme renewal in Ghana: Does waiting time at health insurance registration office matter?," MPRA Paper 91961, University Library of Munich, Germany.

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